“Massmart’s interest in investing in Kenya is well
known,” Chief Executive Officer Grant Pattison said in an e-mailed response to questions. “We don’t however, comment on
acquisitions, potential, speculative or otherwise.”

Nakumatt Holdings Ltd., East Africa’s largest retail chain
by sales with a network of 40 outlets, said on July 25 that
there are no plans to sell its shares. Tuskys, a Nairobi-based
retailer with 42 stores in Kenya and six in Uganda, hasn’t held
any talks with Massmart, a company official, speaking on
condition that he not be identified, said by phone today. Tuskys
sees prospects of opening more outlets in the near future and
entering nearby countries, according to its website.

Wal-Mart, the world’s largest retailer, has a 52 percent
stake in Johannesburg-based Massmart. The South African company
said last month that first-half sales growth slowed to 5.5
percent, from 7.3 percent in the six months through December, as
rising unemployment discouraged spending by consumers.